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The Latest Breaking News on Economy

WASHINGTON: A strong August jobs report means the US Federal Reserve will continue to aggressively raise interest rates, though a surge in the labour force could give central bankers the option to back off a little if they choose.

Bangkok Post

US economy added 315,000 jobs in August as unemployment rate rose slightly from half-century low

The government reported Friday that the economy added 315,000 jobs last month, down from 526,000 in July

The Independent UK

US adds 315,000 jobs as participation jumps and wages rise

U.S. employers added jobs at a healthy, yet more moderate pace in August, offering little evidence of any kind of definitive slowdown despite a jump in unemployment.

Tribune News Service

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US employers add 315,000 jobs as more workers join labor force

U.S. employers added a healthy number of jobs in August and a steady stream of people entering the workforce lifted the unemployment rate, suggesting some easing in the tight labor market and offering mixed implications for the Federal Reserve.

Tribune News Service

U.S. adds solid 315,000 jobs in August

Employers continue to hire workers at a robust pace, even as the Federal Reserve raises interest to crush inflation.

Axios

US added 315,000 jobs in August as strong market defies signs of worsening economy

Numbers come as Jerome Powell says Federal Reserve intends to continue interest rate hikes to try to tamp down inflation

The Guardian - US

Commentary: Could a return of the lost workers avert a recession?

There’s not much good to say about the U.S. economy today, with out-of-control inflation eroding household incomes and Americans bracing for a recession after gross domestic output shrunk in the first half of 2022.

Tribune News Service

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US jobless claims decline for a third week to a two-month low

Applications for U.S. unemployment insurance fell for a third week to a two-month low, suggesting healthy demand for labor even as economic growth moderates.

Tribune News Service

RBA’s search for inflation sweet spot tipped to raise interest rates to 2.35 per cent

Households are staring down yet another mortgage bill hike next week, with the Reserve Bank set to pass through its fifth interest rate hike in a row.

The New Daily

Incoming PM will oversee 'biggest squeeze on living standards in 100 years'

“RADICAL policy action” is needed after a report found the next Tory prime minister is on course to preside over the deepest squeeze in living…

The National (Scotland)

Janet Yellen kicks off month-long economic victory tour to sell Biden's achievements

The Treasury secretary plans to spend some of her intellectual capital to make the case for Biden's economy.

Axios

India’s economy grows by 13.5 percent but misses target

The jump came because of the low base of the previous quarter and economists have cautioned of a slowdown.

Al Jazeera

Fed Plans 2023 Launch of Faster Payments System

The Federal Reserve is set to launch a long-awaited faster payments system by next summer, a step that officials say will modernize an outmoded infrastructure and ensure that near-instant payments become widely available.

Bangkok Post

Borrowing costs on UK’s debts hit by biggest monthly rise since 1986

Heaping pressure on incoming prime minister, 10-year government bond yields shoot up to 2.78%

The Guardian - UK

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The Guardian - UK

Pound heads for worst month since 2016 against US dollar; eurozone inflation hits record high – as it happened

Pound and UK government bonds have suffered a torrid month, as Rishi Sunak warns of risk that markets lose faith in UK economy

Newsroom.co.nz

The jostling winners in a dog-eats-dog high inflation world

The cost of living is increasing at its fastest rate since 1990. Inequality means more status competition, as people jostle in a high-stakes economy.

Daily Mirror

Liz Truss warned 'simplistic' tax cut plans would 'completely crash' the economy

Institute for Fiscal Studies boss Paul Johnson tore into the Conservative frontrunner's tax plans - as ex-Chancellor Lord Darling warned of the 'lethal cocktail' facing the British economy from inflation and a looming recession

Tribune News Service

Central Bankers in Jackson Hole embrace tightening mission ahead

Top officials from the world’s biggest central banks coalesced around a simple message in Jackson Hole this weekend: They are ready to follow through with higher interest rates, even if it does some damage.

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AAP

Sectors join forces ahead of jobs summit

The national welfare advocate, as well as business and union representatives, are urging the federal government to ensure long-term unemployment is eradicated.

Tribune News Service

Warren says Fed policies could tip US economy into recession

WASHINGTON — Sen. Elizabeth Warren took aim at the Federal Reserve’s inflation-fighting game plan on Sunday, saying she was worried the central bank will tip the U.S. economy into a recession.

The Independent UK

Johnson: Golden future to follow ‘tough’ spell for resilient Britain

The outgoing PM predicted that the UK will emerge ‘stronger and more prosperous the other side’ of the cost-of-living crisis.

The Guardian - AU

Should Australian companies make millions out of people’s unemployment misery?

Next week’s jobs summit seems like an opportune time to raise questions around the lucrative employment industry

The Guardian - UK

These are energy bills many Britons simply can’t afford. Some will pay with their lives

This price hike threatens to create a whole new class of poor, and it is clear our wretched politics will do nothing to protect them, says Guardian columnist Aditya Chakrabortty

The Independent UK

Powell's Jackson Hole speech will stir speculation on rates

When Federal Reserve Chair Jerome Powell delivers what will be his most closely scrutinized speech of the year Friday, investors and economists will be turning over his remarks for any clues about how fast the Fed may continue to raise its short-term interest rate — and for how long

Tribune News Service

Biden’s student-loan relief adds new wrinkle to inflation debate

President Joe Biden’s plan to forgive a portion of student loans held by tens of millions of people will ripple through the economy as personal spending and savings shift, but no factor will be more closely watched than inflation.

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